US-BUSINESS Summary

Sep 5, 2011, 11:59 p.m.

Apple to open first Hong Kong store this quarter

SHANGHAI (Reuters) - Apple Inc said on Tuesday it will open its first Hong Kong retail store this quarter and is targeting another Shanghai store opening by the end of the year. Apple, which has four stores on mainland China, will open its Hong Kong store in the International Finance Center this quarter, said Carolyn Wu, a Beijing-based Apple spokeswoman.

China starts to reshuffle engineers of economic boom

HONG KONG (Reuters) - China has begun work on an 18-month reshuffle of its top economic and regulatory policy officials as part of a leadership transition that will see President Hu Jintao and Premier Wen Jiabao hand their posts to a younger generation. Sources and analysts with ties to China's ruling elite say the political musical chairs among ministers, cabinet officials, agency chiefs and provincial governors is under way and will run its course by early 2013.

Former News Corp executives to face hacking committee

LONDON (Reuters) - Four former executives from News Corp's UK newspaper arm will appear before a powerful parliamentary committee on Tuesday in the ongoing hunt to establish who knew what about phone hacking and whether James Murdoch did enough to uncover the scandal. The committee called the four men who no longer work for News International -- two lawyers, the head of human resources and an editor -- after evidence emerged which suggested that the company had engaged in a huge corporate cover up.

G7 to seek ways to prop up global growth: source

(Reuters) - Group of Seven financial leaders, worried about risks to global growth, are likely to agree this week to keep monetary policy accommodative, slow fiscal consolidation in countries where that is possible and implement structural reforms, a G7 source said. Finance ministers and central bank governors of the United States, Canada, Japan, Germany, France, Italy and Britain (G7) meet on Friday in the French port of Marseilles to discuss what action to take to prop up the slowing global economy.